(TheNewswire)
London, Ontario - TheNewswire - July 28, 2023 - Peloton Minerals Corporation (“PMC” or the “Company”) (CSE:PMC ) ( OTC:PMCCF) hasclosed a non-brokered private placement of CDN$55,000.00 (the “ PrivatePlacement ”) and consisting of 611,111units priced at CDN$0.09 per unit. Each unit consists of one commonshare and one common share purchase warrant exercisable for threeyears at $0.12.
The Private Placement was conducted in reliance uponcertain prospectus exemptions, including theexemption allowing issuers to raise capital by distributing securitiesto existing shareholders (the “ExistingShareholder Exemption”) contained in OSC Rule45-501 (2.9) and the various correspondingblanket orders and rules of participating jurisdictions (with theexception of Newfoundland and Labrador) as wellas other available prospectus exemptions, including sales toaccredited investors and close personal friendsand business associates of directors and officers of the Company. TheCompany set July 20, 2023 as the record date for the purpose ofdetermining existing shareholders entitled topurchase Shares pursuant to the Existing Shareholder Exemption. Theproceeds of the Private Placement will be used for workingcapital. Subscriptions were accepted in whole or inpart at the discretion of the Company on a first come, first servedbasis.
The securities issued in connection with the PrivatePlacement are subject to a hold period expiring four months and oneday from the issuance of the securities.
The Company will modify the expiry time of certainoutstanding warrants of the Company held by previous private placementinvestors as follows:
7,934,629 warrants exercisable at a price of CDN$0.125 until 5:00 pm on August 20, 2023 willbe exercisable until 5:00 pm on August 20, 2025 .
For further information please contact:
Edward (Ted) Ellwood, MBA
President & CEO 1-519-964-2836
Peloton Minerals Corporation is a reporting issuer in good standing inthe Provinces of British Columbia and Ontario whose common shares arelisted on the CSE (Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF) . There are 123,099,458 commonshares issued and outstanding in the capital of the Company after theclosing of the placement described above.
Peloton’s core exploration portfolio includes aCopper Porphyry project near Butte, Montana and three Carlin StyleGold exploration projects in Elko County, Nevada.
CSE has notreviewed and does not accept responsibility for the adequacy oraccuracy of this release.
This news release contains"forward-looking information" (within the meaning ofapplicable Canadian securities laws) and "forward-lookingstatements" (within the meaning of the U.S. Private SecuritiesLitigation Reform Act of 1995). Such statements or information areidentified with words such as "anticipate","believe", "expect", "plan","intend", "potential", "estimate","propose", "project", "outlook","foresee" or similar words suggesting future outcomes or statements regarding anoutlook.
Although the Company believes thatthe expectations reflected in the forward-looking information orstatements are reasonable, prospective investors in the Company’ssecurities should not place undue reliance on forward-lookingstatements because the Company can provide no assurance that suchexpectations will prove to be correct. Forward-looking information andstatements contained in this news release are as of the date of thisnews release and the Company assumes no obligation to update or revisethis forward-looking information and statements except as required bylaw.
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